16 Sep 2023 05:40 PM
New

Thirty one GST appellate tribunal benches to be set up across the country

Source: https://www.livemint.com/news/india/thirty-one-gst-appellate-tribunal-benches-to-be-set-up-across-the-country-11694787906443.html

New Delhi: The Centre has notified setting up of 31 GST appellate tribunal benches across the country to ensure quick resolution of disputes related to Goods and Services Tax (GST) between the government and businesses, and central and state governments.

15 Sep 2023 05:39 PM
New

GST on brand name usage baffles banks

Source: https://www.livemint.com/industry/banking/gst-on-brand-name-usage-baffles-banks-11694715629173.html

Banks are facing uncertainty on the applicability of goods and services tax (GST) on the use of a common brand name of the bank by all its branches and subsidiaries, said two people privy to the development.

14 Sep 2023 05:37 PM
New

Sovereign Gold Bond: Five reasons to buy SGB series-II that closes for subscription tomorrow

Source: https://www.livemint.com/money/personal-finance/sovereign-gold-bond-five-reasons-to-buy-sgb-series-ii-that-closes-for-subscription-on-september-15-11694680454137.html

Sovereign Gold Bonds (SGBs) offer assured returns, no storage hassles, no capital gains tax, can be used as collaterals for loans, and have no GST or making charges

13 Sep 2023 06:11 PM

Government Imposes 30-Day Invoice Reporting Limit for Large Taxpayers

Source: https://taxguru.in/goods-and-service-tax/government-imposes-30-day-invoice-reporting-limit-large-taxpayers.html

The Indian Government has introduced a significant change in the reporting of invoices on the e-invoice IRP portals. Taxpayers with an Aggregate Annual Turnover (AATO) exceeding 100 crores will now face a strict time limit for reporting invoices. This article delves into the details of this crucial update and its implications for large taxpayers.

12 Sep 2023 05:37 PM

New GST Invoice Reporting Time Limit: Important Update for Taxpayers

Source: https://taxguru.in/goods-and-service-tax/new-gst-invoice-reporting-time-limit-important-update-taxpayers.html

Introduction: In a move to streamline and regulate the reporting of invoices on e-invoice portals, the GST Authority has introduced a significant change that directly impacts taxpayers, especially those with an Aggregate Annual Turnover (AATO) of equal to or greater than 100 crores. Effective from November 1, 2023, taxpayers falling within this category will be subject to a strict 30-day time limit for reporting invoices from the date of the invoice itself. This advisory aims to provide clarity on this new development and its implications for taxpayers.

12 Sep 2023 05:29 PM

Nitin Gadkari clarifies statement on ‘additional tax on diesel vehicle purchase’, says ‘no such plans yet’

Source: https://www.livemint.com/industry/energy/nitin-gadkari-clarifies-reports-on-additional-tax-on-diesel-vehicle-purchase-says-no-such-plans-yet-11694505879214.html

No proposal to impose additional 10% GST on sale of diesel vehicles, says Road Transport Minister Nitin Gadkari.

12 Sep 2023 05:26 PM

Nitin Gadkari pushes for shift to green fuel, ‘may have to propose additional 10% GST, if…’

Source: https://www.livemint.com/news/additional-10-gst-pollution-tax-maybe-considered-on-diesel-run-vehicles-and-generators-if-nitin-gadkari-11694500520397.html

India's Road Transport Minister plans to propose a 10% tax on diesel engine vehicles to the finance minister.

09 Sep 2023 06:05 PM

GSTN warns against unauthorized scraping of GST Common Portal

Source: https://taxguru.in/goods-and-service-tax/gstn-warns-unauthorized-scraping-gst-common-portal.html

The Goods and Services Tax Network (GSTN) recently issued an advisory to GST Suvidha Providers (GSPs), warning them against malpractices like scraping the GST Common Portal. GST Suvidha Providers are third-party service providers authorized by GSTN to help taxpayers comply with the complex requirements of the GST system in India. They act as an essential bridge between end-users and the GST Common Portal.

06 Sep 2023 05:45 PM

E-way bills hit record 93.4 mn in Aug, signalling festive boost

Source: https://www.livemint.com/news/india/eway-bill-generation-surges-to-all-time-high-boosting-gst-revenue-collections-and-economic-activity-in-india-11693931213515.html

NEW DELHI : Electronic permits for goods shipped within and across states shot up to an all-time high of 93.4 million in August, pointing to brisk economic activity which could boost Goods and Service Tax (GST) revenue collections in September.

04 Sep 2023 06:22 PM

Incentives in the form of gold, other assets may attract GST

Source: https://www.livemint.com/news/india/incentives-in-the-form-of-gold-other-assets-may-attract-gst-11693762374426.html

New Delhi: Companies offering incentives to their dealers in the form of assets, such as gold coins, may face tax uncertainties under goods and services tax (GST) following a recent ruling by the Karnataka Authority for Advance Ruling (AAR).